World Kinect Corporation
- Open
- 34.71
- Day high
- 35.34
- Day low
- 34.58
- Prev close
- 34.40
- Volume
- 999K
- Mkt cap
- $1.8B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.5
- P/S
- 0.0
- Yield
- 1.25%
- Per share
- $0.43
- ▼Insiders net selling -$3.1M over the last 3 months (0 open-market buys, 13 sales)
- 🏛Institutions mixed (13F)
World Kinect Corporation (WKC) is a Energy company listed on NYSE. The stock is up 16% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 13 sales (SEC Form 4).
World Kinect Corporation (WKC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WKC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.31 | $0.75 | +141.9% | $9.7B | +11.2% |
| Feb 19, 2026 | $0.47 | $0.30 | -36.2% | $9.0B | +1.7% |
| Oct 23, 2025 | $0.61 | $0.54 | -11.5% | $9.4B | -0.0% |
| Jul 31, 2025 | $0.48 | $0.59 | +22.9% | $9.1B | -2.9% |
| Apr 24, 2025 | $0.45 | $0.48 | +6.7% | $9.5B | -9.7% |
| Feb 20, 2025 | $0.57 | $0.62 | +8.8% | $9.8B | -5.5% |
| Oct 24, 2024 | $0.62 | $0.62 | +0.0% | $10.5B | -2.7% |
| Jul 25, 2024 | $0.56 | $0.48 | -14.3% | $11.0B | -8.1% |
| Apr 25, 2024 | $0.49 | $0.47 | -4.1% | $10.9B | -7.5% |
| Feb 22, 2024 | $0.44 | $0.54 | +22.7% | $12.0B | -1.1% |
| Oct 26, 2023 | $0.58 | $0.58 | +0.0% | $12.2B | +1.8% |
| Jul 27, 2023 | $0.47 | $0.48 | +2.1% | $11.0B | -16.8% |
WKC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 7, 2026 | KASBAR MICHAEL Jdirector, officer: Executive Chairman | Sell | 10,000 | $33.38 |
| Jun 23, 2026 | STEBBINS PAUL Hdirector | Grant | 6,106 | — |
| Jun 23, 2026 | Piper Gregory Fdirector | Grant | 6,427 | — |
| Jun 23, 2026 | BAKSHI KENdirector | Grant | 7,070 | — |
| Jun 23, 2026 | Manley John Ldirector | Grant | 7,231 | — |
| Jun 23, 2026 | Benitez Jorge L.director | Grant | 6,427 | — |
| Jun 23, 2026 | Smith Andrea Bdirector | Grant | 6,427 | — |
| Jun 23, 2026 | Cherwoo Shardadirector | Grant | 6,427 | — |
| Jun 23, 2026 | Kottkamp Jeffrey Michaeldirector | Grant | 6,427 | — |
| Jun 9, 2026 | KASBAR MICHAEL Jdirector, officer: Executive Chairman | Sell | 19,300 | $30.17 |
| Jun 9, 2026 | KASBAR MICHAEL Jdirector, officer: Executive Chairman | Sell | 700 | $30.00 |
| Jun 4, 2026 | KASBAR MICHAEL Jdirector, officer: Executive Chairman | Sell | 10,000 | $29.15 |
| May 12, 2026 | Tejada Jose-Miguelofficer: EVP, Chief Financial Officer | Tax | 494 | $27.07 |
| May 12, 2026 | Kroll Michael Johnofficer: SVP & Chief Accounting Officer | Tax | 203 | $27.07 |
| May 12, 2026 | Kroll Michael Johnofficer: SVP & Chief Accounting Officer | Tax | 196 | $27.07 |
Source: WKC SEC Form 4 filings, latest Jul 7, 2026. For informational purposes only — not investment advice.
See the full WKC insider & 13F page →World Kinect Corporation company profile
Overview
World Kinect Corporation (NYSE:WKC) is a global fuel distribution and energy services company that has been operating since 1984. Originally incorporated as World Fuel Services Corporation, the company rebranded to World Kinect Corporation in June 2023 to better reflect its evolving role as an energy connector across multiple industries. Headquartered in Miami, Florida, World Kinect has grown from its initial public offering in 1986 to become one of the world's largest fuel distributors, serving customers across aviation, marine, and land transportation sectors globally. The company operates as an intermediary in the complex fuel supply chain, connecting fuel suppliers with end users while providing value-added services including logistics, risk management, and increasingly, sustainable energy solutions.
Business
World Kinect operates as a fuel distribution and energy services company across three primary business segments, each serving distinct transportation industries with specialized fuel and related services. The Aviation segment represents the company's most profitable division, supplying jet fuel and related products to commercial airlines, cargo carriers, corporate fleets, government entities, and military customers worldwide. This segment generated approximately 1.7-1.8 billion gallons in recent quarters and provides additional services including fuel management, price risk management, ground handling, dispatch services, and trip planning. The aviation business has maintained strong operating margins around 53% and has been expanding internationally, particularly in Europe and Asia. The segment is also heavily investing in Sustainable Aviation Fuel (SAF) distribution, with volumes growing 40% year-over-year as airlines seek to reduce carbon emissions. The Land segment serves retail petroleum operators, industrial, commercial, residential, and government customers across North America. This segment distributes traditional liquid fuels, lubricants, heating oil, natural gas, and power, with natural gas and power representing approximately 40% of total volumes. The land business also provides energy procurement management, price risk management, and sustainability solutions including carbon management and renewable energy services. This segment has faced operational challenges and margin pressure, prompting management to focus on portfolio optimization and operational efficiency improvements. The Marine segment supplies fuel, lubricants, and related products to international shipping fleets, including container vessels, dry bulk carriers, tanker fleets, cruise lines, and offshore rig operators. This segment provides comprehensive marine fuel-related services including procurement management, cost control, quality control, and claims management. The marine business operates as a highly efficient platform but has experienced volume declines and margin compression due to reduced market volatility and changing bunker fuel dynamics. Revenue distribution varies by quarter, but aviation typically represents the highest-margin business, while land generates the largest volume of transactions, and marine provides steady cash flows despite recent headwinds.
Revenue model
World Kinect operates on a fuel distribution and logistics model that generates revenue through multiple streams across its three business segments. The company primarily makes money through gross profit margins earned on fuel sales, where it purchases fuel from refineries and suppliers and resells it to end customers at marked-up prices. This is supplemented by fees for value-added services including logistics, risk management, and specialized services. In the aviation segment, the company earns margins on jet fuel sales to airlines and other aviation customers, while also generating service fees for fuel management, ground handling, and trip planning services. The aviation business benefits from long-term contracts and relationships with major airlines, providing relatively predictable revenue streams. The land segment generates revenue through fuel distribution to retail operators and direct sales to commercial and industrial customers. This includes traditional petroleum products as well as natural gas and power sales. The company also earns fees from energy procurement services and sustainability consulting. However, this segment has faced margin pressure from oversupplied natural gas markets and logistical challenges in renewable fuel distribution. The marine segment earns margins on bunker fuel sales to international shipping fleets and generates service fees for fuel management and logistics services. Revenue in this segment can be volatile based on global shipping activity and fuel price dynamics. Several factors influence the company's margins and profitability. Fuel price volatility can create both opportunities and risks, as periods of high volatility typically expand margins while stable pricing environments compress them. Global economic conditions affect demand across all segments, with economic downturns reducing transportation fuel consumption. Regulatory changes around emissions and sustainability create both challenges and opportunities, as customers increasingly demand lower-carbon fuel alternatives. Competition from integrated oil companies and other distributors can pressure margins, while the company's scale and service capabilities provide competitive advantages. Interest rate fluctuations affect the company's financing costs for working capital, which can be substantial given the capital-intensive nature of fuel distribution.
Competitive moat
World Kinect's competitive moat is moderate but meaningful, built primarily on scale advantages, customer relationships, and operational complexity rather than proprietary technology or regulatory barriers. The company's moat strength varies significantly across its three business segments. In aviation, World Kinect benefits from high switching costs and relationship-based barriers. Airlines require reliable, global fuel supply networks with proven safety records and operational expertise. The complexity of international aviation fuel logistics, including regulatory compliance, quality control, and 24/7 service capabilities, creates meaningful barriers to entry. The company's established relationships with major airlines, built over decades, provide some protection against competitors. However, this moat is not insurmountable, as integrated oil companies and other large distributors can compete effectively with sufficient investment. The land segment has the weakest competitive positioning, operating in fragmented markets with numerous competitors ranging from local distributors to major oil companies. While the company benefits from scale in procurement and some regional market positions, customers can relatively easily switch suppliers. The company's push into sustainability services and energy management provides some differentiation, but these services are increasingly commoditized. The marine segment benefits from operational scale and global network effects. The complexity of international marine fuel logistics, including port relationships, quality control, and credit management, creates some barriers to entry. However, several large competitors operate similar global platforms, limiting the durability of competitive advantages. The company's overall moat is being challenged by several disruptive forces. The transition to sustainable fuels requires significant new investments and capabilities, potentially leveling the playing field with new entrants. Digital platforms and fintech solutions are reducing some traditional advantages in payment processing and risk management. Additionally, some large customers are exploring direct relationships with refineries, potentially disintermediating distributors like World Kinect. The company is responding by investing heavily in sustainable fuel capabilities and digital services, but success is not guaranteed.
Risks & safety
World Kinect presents a moderate margin of safety with manageable financial risks but some operational challenges that require monitoring. **Liquidity and Solvency:** - Strong liquidity position with $456 million in cash and short-term investments as of Q1 2025 - Current ratio of 1.15 indicates adequate short-term liquidity coverage - Debt-to-equity ratio of 0.46 represents moderate leverage levels - Positive free cash flow generation of $99 million in Q1 2025, though this was negative in Q3 2024 - Working capital requirements can be substantial due to fuel inventory financing needs **Valuation Metrics:** - Trading at 0.84x book value, suggesting potential undervaluation - EV/EBITDA ratio of 18.8x appears elevated due to recent EBITDA compression - Price-to-earnings ratios have been volatile, reflecting earnings inconsistency - Graham net-net working capital per share is negative, indicating asset-heavy business model **Other Considerations:** - Cyclical industry exposure creates earnings volatility - Recent restructuring charges and business divestitures indicate management is actively addressing underperforming assets - Commodity price exposure requires active risk management - Geographic diversification provides some stability but also adds complexity
Recent development
Over the past few years, World Kinect has undergone significant strategic portfolio reshaping aimed at improving profitability and focusing on core competencies. The company has systematically divested underperforming assets, including the sale of its Brazilian operations, UK land business, and the Avinode aviation services platform for approximately $200 million. These divestitures reflect management's commitment to exiting low-margin or operationally challenging businesses to improve overall returns. A major strategic initiative has been the consolidation of North American land operations onto a single technology platform, expected to be completed in 2025. This consolidation is designed to improve operational efficiency, reduce costs, and enhance customer service capabilities. The company has also implemented significant cost reduction programs, including $15 million in restructuring charges in Q1 2025, targeting $30 million in annualized cost savings through headcount reductions and operational streamlining. World Kinect has dramatically increased its focus on sustainable energy solutions, particularly in aviation where Sustainable Aviation Fuel (SAF) volumes have grown 40% year-over-year. The company has positioned itself as a leading SAF distributor and has expanded its sustainability service offerings across all segments. This includes carbon management services, renewable energy solutions, and investments in early-stage energy technologies through World Connect Sustainability Ventures. The company has also been active in strategic acquisitions, completing small tuck-in acquisitions in aviation to expand its customer base and geographic reach. Management has indicated an improved M&A environment with more reasonable seller expectations and expects potential acquisition opportunities in the next 12 months. The focus remains on synergistic investments that complement existing platforms rather than transformational deals. Financial discipline has been a key theme, with the company targeting a 30% operating margin in its land segment by focusing on higher-margin activities like cardlock operations and sustainability services while exiting lower-return businesses. Management has also maintained disciplined capital allocation, returning $139 million to shareholders in 2024 through share buybacks and dividend increases.
WKC company profile · for informational purposes only — not investment advice.
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